New CPP Payments To Be Sent Canada-Wide On October 28

Service Canada has confirmed that the next Canada Pension Plan deposit, the CPP payments, will reach bank accounts across the country on Wednesday, October 28, 2026.

Millions of retirees, disability benefit recipients, survivors, and dependents will receive their monthly payment on this date, continuing the 2026 CPP payment schedule that has delivered deposits every month since January.

The October 28 CPP deposit reflects the 2.0% annual increase that took effect in January 2026, while a new payment increase of approximately 2.6% to 2.7% is projected for January 2027.

Here is everything Canadians need to know about the October 28 CPP payment, including maximum and average benefit amounts, eligibility requirements, upcoming payment dates, and the projected pension increase for January 2027.

Current Maximum and Average CPP Payment Amounts

The official CPP monthly amounts page shows both maximum and average figures for every benefit category, updated with July 2026 data for new beneficiaries.

For a new retirement pension starting at age 65, the maximum monthly payment in 2026 is $1,507.65, while the average for a new beneficiary is $858.34.

The gap between the maximum and the average reflects how CPP calculations depend on each contributor’s earnings history, years of contributions, and the age they chose to begin collecting.

Benefit Type	Average (New Beneficiary, July 2026)	Maximum Benefit (2026)
Retirement pension (at age 65)	$858.34	$1,507.65
Post-retirement benefit (at age 65)	$26.25	$54.69
Disability benefit	$1,236.32	$1,741.20
Post-retirement disability benefit	$610.46	$610.46
Survivor’s pension (under 65)	$555.70	$803.54
Survivor’s pension (65 and older)	$336.91	$904.59
Children’s benefit (under 18)	$307.81	$307.81
Children’s benefit (full-time student)	$307.81	$307.81
Children’s benefit (part-time student)	$153.91	$153.91
Death benefit (one-time payment)	$2,620.72	$2,500 base; up to $5,000 with eligible top-up

The death benefit carries a base one-time payment of up to $2,500, with an additional $2,500 available when the deceased never received a CPP or QPP retirement, disability, or post-retirement disability benefit and has no eligible surviving spouse or common-law partner, bringing the combined maximum to $5,000.

Maximum benefit amounts listed above apply to new benefits beginning in January 2026 and increase each subsequent month due to the ongoing CPP enhancement that has been phased in since 2019.

New CPP Payment Increase Coming In January 2027

Based on the latest official inflation figures, CPP payments could increase by approximately 2.6% to 2.7% in January 2027, compared with the confirmed 2.0% increase for 2026.

The estimate uses monthly All-items Consumer Price Index through September 2026 and the official CPP indexation formula.

September’s annual inflation rate was 3.1%, but CPP increases are calculated using the average CPI over two consecutive 12-month periods, not a single month’s inflation rate.

Illustrative increases using a 2.6% adjustment

Current monthly CPP	Estimated January 2027
$600	$615.60
$800	$820.80
$1,000	$1,026.00
$1,200	$1,231.20

These are projections for existing CPP payments, not newly announced 2027 maximum benefit amounts.

The official increase remains unconfirmed. StatCan is scheduled to release October 2026 inflation figures on November 16, allowing the complete November 2025–October 2026 comparison to be calculated.

How CPP Retirement Pension Amounts Are Determined

Your monthly CPP retirement pension depends on three interrelated factors: the pensionable earnings you recorded during your working years, the total duration of your contribution history, and the age at which you chose to begin collecting.

When Service Canada calculates your pension, it automatically excludes a portion of your lowest-earning years through the general dropout provision, which removes up to eight years of your weakest contributions from the formula.

Contributors who spent time raising children under age seven may also benefit from the child-rearing dropout provision, which sets aside those low-earning periods so they do not drag down the final calculation.

The maximum retirement pension of $1,507.65 per month requires close to 39 years of contributions at or near the earnings ceiling, a benchmark that relatively few contributors achieve.

For a more personalized projection, My Service Canada Account provides a Statement of Contributions that shows your annual earnings on record and estimated pension amounts at ages 60, 65, and 70.

Choosing When to Start Your CPP

CPP retirement benefits can begin as early as age 60 or as late as age 70, with significant financial consequences attached to that decision.

Starting before age 65 reduces the monthly payment by 0.6% for each month you collect early, which translates to a 7.2% reduction per year and a permanent 36% cut if you begin at 60.

Delaying past 65 increases the monthly amount by 0.7% for each month you wait, reaching a maximum boost of 42% if you defer until age 70.

A contributor entitled to $858 at age 65 would receive roughly $549 per month at 60, or approximately $1,218 per month at 70, making the start-age decision one of the most consequential choices in Canadian retirement planning.

Workers aged 60 to 64 who continue working while receiving CPP must generally continue contributing. From age 65 to 69, CPP retirement pension recipients can choose to stop contributing.

Those who continue making valid contributions earn Post-Retirement Benefits, which increase their monthly pension payments beginning the following year.

2026 CPP Contribution Rates and Earnings Ceilings

Working Canadians outside Quebec contribute to CPP through payroll deductions shared equally between employees and employers.

For 2026, the base CPP contribution rate is 5.95% for both employees and employers on pensionable earnings between $3,500 and the Year’s Maximum Pensionable Earnings of $74,600.

That brings the maximum annual base employee contribution to $4,230.45, with the employer matching the same amount.

A second tier of contributions known as CPP2 applies to earnings between $74,600 and the Year’s Additional Maximum Pensionable Earnings of $85,000, charged at 4% for both employees and employers.

The maximum CPP2 employee contribution for 2026 is $416, with self-employed workers paying both the employee and employer portions for a combined maximum of $832.

These enhanced contributions feed into the CPP enhancement that has been phasing in since 2019, gradually increasing future pension amounts for those who contribute at or above the earnings ceilings.

Quebec workers contribute to the Quebec Pension Plan under a parallel structure with similar rates and thresholds.

CPP Disability and Survivor Benefits

The Canada Pension Plan extends well beyond retirement income, providing financial protection through disability and survivor benefit categories that also pay out on October 28.

The CPP disability benefit supports contributors under 65 who have a severe and prolonged disability that prevents them from working, with a maximum monthly payment of $1,741.20 and an average of $1,236.32 for new recipients.

When a CPP disability recipient turns 65, their benefit automatically converts to a CPP retirement pension without any additional application.

Survivor pensions provide monthly income to the surviving spouse or common-law partner of a deceased contributor, paying up to $803.54 for survivors under 65 and up to $904.59 for those 65 and older.

The children’s benefit covers eligible children under 18 and students aged 18 to 25 who attend a recognized school, paying $307.81 per month for full-time students and $153.91 per month for part-time students.

Recipients who qualify for more than one CPP benefit type receive a combined payment, though the total may be less than the sum of individual maximums due to program combination rules.

Remaining 2026 CPP Payment Dates

After the October 28 deposit, two more CPP payments remain on the 2026 federal benefits payment calendar.

October 28, 2026 (Wednesday)
November 26, 2026 (Thursday)
December 22, 2026 (Tuesday)

The December payment arrives earlier than usual to account for the holiday period, landing on December 22 rather than at the very end of the month.

Service Canada has not yet published the official 2027 CPP payment dates, so any dates beyond December 2026 remain unconfirmed.

Who Is Eligible for CPP Benefits

Eligibility for the CPP retirement pension requires meeting two conditions: you must be at least 60 years old, and you must have made at least one valid contribution during your working years.

The program covers employees and self-employed individuals in every province and territory except Quebec, where workers contribute to the Quebec Pension Plan instead.

Newcomers who begin working and contributing through payroll deductions are building CPP eligibility from their first paycheque, even if they arrived recently.

Canada holds social security agreements with more than 60 countries, which can allow contributions made in another country to count toward CPP eligibility, particularly for immigrants approaching retirement age.

Credit splitting provisions also apply after a divorce or separation, allowing CPP credits earned during the period of cohabitation to be divided between former spouses or common-law partners.

You do not need to stop working to collect CPP retirement benefits. Recipients under age 70 who continue making valid CPP contributions while working can earn additional Post-Retirement Benefits.

How to Apply for CPP

CPP retirement benefits are not paid automatically, so eligible Canadians need to submit an application before payments can begin.

Service Canada allows applicants to apply up to 12 months before their chosen start date, giving enough lead time for processing and verification.

The fastest route is applying online through My Service Canada Account, where online applications are processed in approximately 28 days.

Paper applications submitted by mail or delivered to a Service Canada office can take up to 120 days to process, making the online option significantly faster.

You will need your Social Insurance Number, direct deposit banking details, and potentially a birth certificate or proof of legal status when completing your application.

What to Do If Your Payment Does Not Arrive

Direct-deposit CPP payments are scheduled for October 28, but posting times can vary depending on your financial institution.

If your CPP payment has not arrived, the Canadian government advises waiting five to ten business days before contacting the program. You can then contact Service Canada at 1-800-277-9914 to inquire about your payment.

Before calling, verify that your banking details and mailing address are current in your My Service Canada Account, as outdated information is one of the most common causes of missed or delayed deposits.

Be cautious of unsolicited phone calls, emails, or text messages claiming to be from Service Canada or the CRA and asking for personal banking information.

Neither Service Canada nor the CRA will ever request your banking credentials or passwords through email, text, or social media, and any such contact should be reported to the Canadian Anti-Fraud Centre.

If you have not yet applied for CPP and meet the eligibility requirements, submitting your application well in advance of your chosen start date gives Service Canada adequate time to process your file and avoids gaps in income.

Reviewing your Statement of Contributions through My Service Canada Account is the most reliable way to understand your projected pension and make informed decisions about when to begin collecting.

Frequently Asked Questions (FAQs)

Can I receive CPP payments if I still work full-time at age 65?

Yes, you can collect your CPP retirement pension while continuing to work without any reduction to your payment amount.
If you are aged 60 to 64 and working while receiving CPP, contributions are generally mandatory. From age 65 to 69, you can elect to stop contributing using Form CPT30. If you continue contributing, you can earn additional Post-Retirement Benefits that increase your monthly pension.
After age 70, CPP contributions stop even if you keep working, and no further Post-Retirement Benefits accumulate.

How does the CPP child-rearing dropout provision work, and do I need to apply for it?

The child-rearing dropout provision can exclude eligible periods when your earnings were low or zero because you were the primary caregiver of a child under age seven, preventing those years from reducing your pension calculation.
You must provide the relevant child-rearing information when applying for CPP so Service Canada can assess your eligibility. The information can be submitted as part of your CPP application, while existing CPP recipients can request the provision separately through My Service Canada Account or Form ISP1640.
This provision can be especially valuable for parents who took time away from the workforce, as it protects their eventual pension from being penalized for years dedicated to childcare.

Will my CPP payment increase again in January 2027, and by how much?

CPP benefits in pay are indexed every January based on the year-over-year change in the Consumer Price Index, so a January 2027 adjustment is expected but the exact percentage has not been announced yet.
Based on the latest StatCan inflation data, CPP payments are currently projected to increase by approximately 2.6% to 2.7% in January 2027, although the official adjustment remains unconfirmed.
The indexation floor ensures that your CPP payment never decreases due to deflation, meaning the 2027 rate will be at least 0% even if consumer prices decline.

What happens to my CPP if I move outside Canada after retirement?

Your CPP retirement pension continues to be paid even if you live outside Canada, regardless of how long you remain abroad, because CPP is a contribution-based benefit tied to your work history rather than your place of residence.
Service Canada can deposit payments into a foreign bank account, though you should update your banking and contact information through your MSCA or by contacting the International Operations office before relocating.
Tax implications may change depending on the country you move to and whether Canada holds a tax treaty with that jurisdiction, so consulting a tax professional before departure is worth considering.

Is the CPP retirement pension considered taxable income?

Yes, CPP retirement pension payments are fully taxable income and must be reported on your annual tax return, regardless of whether you receive them through direct deposit or cheque.
Service Canada issues a T4A(P) slip each year showing the total CPP benefits you received, and the amount is included in your net income for federal and provincial tax purposes.
You can request that Service Canada withhold federal income tax directly from your monthly CPP payment by completing a Request for Voluntary Federal Income Tax Deductions form, which reduces the chance of owing a large balance at tax time.

Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Individual CPP payment amounts vary based on personal contribution history, earnings, and circumstances. Readers should consult a qualified financial advisor or review the official Canada Pension Plan page on Canada.ca for guidance specific to their situation.

Fact-Checked: All CPP payment amounts cited in this article were verified against the official Canada Pension Plan monthly amounts page and the October to December 2026 rate card published on Canada.ca with a page date of September 29, 2026, and the October 28 payment date was confirmed against the official benefits payment calendar.

Gagandeep Kaur Sekhon

Gagandeep Kaur Sekhon moved to Canada in 2010 on a study visa. She navigated through the ups and downs of her student life and gained her permanent residency in 2015. Today, she is a proud Canadian citizen residing in Calgary, Alberta. She is mother of 2 beautiful daughters and making her difference through writing and guidance at INC – Immigration News Canada.